January ushered in good news for home buyers.  The 4th quarter economic growth boosting the GDP by 3.3% kept inflation moderate while the Fed’s stabilization of interest rates brought buyers who were “on the fence” in 2023 back into the market. This was evidenced by a report from the Mortgage Bankers Association which revealed an increase in loan applications by 6% to 9% every week in January of 2024.

While local home prices are still rising, they are expected to rise more modestly in 2024 than the two years prior.  Sellers are experiencing a slightly longer number of days on the market. It will still remain a seller’s market throughout 2024 as Fort Wayne was named the #1 city for Gen Z to become homeowners. There remains pent-up demand for this generation and for Baby Boomers who are looking for the right size. 

If you or someone you know is considering a move across town or across the country this year, we are here to assist you and your friends.